Breedon Group PLC Trading Update (2491J)
21 December 2020 - 6:00PM
UK Regulatory
TIDMBREE
RNS Number : 2491J
Breedon Group PLC
21 December 2020
NEWS RELEASE
21 December 2020
Breedon Group plc
("Breedon" or the "Group")
Trading Update
Breedon, a leading construction materials group in Great Britain
and Ireland, today issues an update on recent trading.
Trading performance
The Group's recent trading update on 18 November 2020 noted
continuation of positive trading into the fourth quarter. Since
then, performance has continued to exceed expectations across the
Group, with revenues in November ahead of the prior year, on a
like-for-like basis. This strong trading performance has continued
into December, in part benefiting from benign weather
conditions.
As a result, the Board now expects the Group's Underlying EBIT
for the full year to be ahead of current market expectations(1) ,
at approximately GBP75 million and net debt to be well below GBP400
million at the year end.
Outlook
The medium term outlook for our markets remains positive,
however, the ongoing Covid-19 pandemic and Brexit negotiations
create continued economic uncertainty, resulting in limited
visibility on trading conditions going into next year.
We continue to expect to announce our preliminary results for
the year ending 31 December 2020 on 10 March 2021.
(1) The Group believes that current market expectations for
Underlying EBIT average GBP71 million for FY20.
- ends -
The information contained within this announcement is deemed by
the Group to constitute inside information under the Market Abuse
Regulations (EU) No. 596/2014.
Information on Breedon Group
Breedon Group plc is a leading construction materials group in
Great Britain and Ireland. It operates two cement plants and an
extensive network of quarries, asphalt plants and ready-mixed
concrete plants, together with slate production, concrete and clay
products manufacturing, contract surfacing and highway maintenance
operations. The Group employs approximately 3,500 people and has
around 1 billion tonnes of mineral reserves and resources. The
Group's strategy is to continue growing through organic improvement
and the acquisition of businesses in the heavyside construction
materials market.
Enquiries:
Breedon Group plc
Pat Ward, Group Chief Executive 01332 694010
Rob Wood, Group Finance Director
R obert Coates, Head of Investor Relations
0 7880 486329
Cenkos Securities (NOMAD and Joint Broker to
Breedon) 020 7397 8900
Max Hartley
Numis Securities (Joint Broker to Breedon)
Ben Stoop 020 7260 1000
Heraclis Economides
Teneo (Public Relations Adviser to Breedon)
Claire Scicluna 07385 395028
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END
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